Group of ESG Investors Demand for Market Reforms
A coalition of ESG investors from different parts of the globe say the time has come for more accountability by private markets. This comes after evidence showed that private markets are absorbing many fossil-fuel-linked assets. The coalition, called the Net Zero Asset Owner Alliance (“NZAOA”), has $9.5 trillion under management. NZAOA has 89members, including Munich Re, Zurich Insurance as well as CalPERS. It is currently focused on broadening its scope to encompass all classes of private assets. Prior to this change, residential mortgage loans as well as debt funds of directly held real estate and other debt funds were excluded…